Good morning Andrew,
Markets are firm this morning after the announcement that global central banks in a coordinated effort stand ready to provide any needed liquidity and credit should the Greek elections end up favoring the socialist/communist anti austerity party......As a result we find bond yields falling throughout Europe.....Their stock markets are higher by 0.5% to 1.5%.......The Euro remains stable at $1.2619 off a mere 5/100ths of a cent versus the U.S. Dollar........
In London metals trading prices we find prices firm.......Silver is $28.77 up 22 cents per ounce....Gold is $6.00 higher at $1625.00.....Palladium is $639.00 up $5.00.....Platinum sits at $1498.00 up $6.00......
In early energy trading the price of Oil is up 56 cents at $84.47 per barrel....
In early New York indications we find the Dow indicating a 34 point higher open despite expectations for more disappointing U.S. economic data today.....The New York Empire State Index of Manufacturing is expected to clock in at 13.5 versus 17.1.....Industrial Production for May looks to be up 0.1% versus 1.1%...Ouch!.....The University of Michigan Sentiment Index of Consumer Confidence looks to be 77, down from 79.3....Not exactly inspiring data......
At the bottom line today's trading will revolve around traders and investors adjusting positions to suit their outlook for Sunday's Greek elections.....That's it.....
Peter R.....Southern Trust Metals, Inc.
Toll free 1-877-448-0080
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